Judgment Assignment Agreement

Transfer of Judgment Rights to Assignee/Collection Agency

JUDGMENT ASSIGNMENT AGREEMENT

This Judgment Assignment Agreement ("Agreement") is made and entered into as of _________________, 20_____ ("Effective Date"), by and between:

ASSIGNOR (Original Judgment Creditor):

Name: _________________________________________________

☐ Individual
Address: _________________________________________________
City, State, ZIP: _________________________________________________
Telephone: _________________________________________________
Email: _________________________________________________
Social Security Number (last 4 digits): XXX-XX-_________ (for verification purposes only)

☐ Business Entity
Entity Name: _________________________________________________
Entity Type: ☐ Corporation ☐ LLC ☐ Partnership ☐ Other: _____________
State of Formation: _________________________________________________
Principal Place of Business: _________________________________________________
Authorized Representative: _________________________________________________
Title: _________________________________________________

AND

ASSIGNEE (Purchaser/Collection Agency):

Name: _________________________________________________

☐ Individual
Address: _________________________________________________
City, State, ZIP: _________________________________________________
Telephone: _________________________________________________
Email: _________________________________________________

☐ Business Entity
Entity Name: _________________________________________________
Entity Type: ☐ Corporation ☐ LLC ☐ Partnership ☐ Other: _____________
State of Formation: _________________________________________________
Principal Place of Business: _________________________________________________
Authorized Representative: _________________________________________________
Title: _________________________________________________
Collection Agency License No. (if applicable): _________________________________________________

RECITALS

WHEREAS, Assignor obtained a judgment (the "Judgment") in the matter described below; and

WHEREAS, Assignor desires to assign all right, title, and interest in the Judgment to Assignee; and

WHEREAS, Assignee desires to acquire all right, title, and interest in the Judgment;

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

SECTION 1: JUDGMENT INFORMATION

1.1 Court and Case Information

Court Name: _________________________________________________

Court Address: _________________________________________________

Case Number: _________________________________________________

Case Caption: _________________________________________________
vs. _________________________________________________

1.2 Judgment Details

Date Judgment Entered: _________________________________________________

Judge/Judicial Officer: _________________________________________________

Type of Judgment:
☐ Default Judgment
☐ Judgment After Trial
☐ Summary Judgment
☐ Stipulated Judgment
☐ Confession of Judgment
☐ Other: _________________________________________________

1.3 Judgment Debtor(s)

Debtor 1:
Full Legal Name: _________________________________________________
Last Known Address: _________________________________________________
City, State, ZIP: _________________________________________________
Social Security Number (last 4 digits): XXX-XX-_________
Date of Birth: _________________________________________________
☐ Individual ☐ Business Entity

Debtor 2 (if applicable):
Full Legal Name: _________________________________________________
Last Known Address: _________________________________________________
☐ Individual ☐ Business Entity

Additional Debtors: ☐ See Attachment A

1.4 Judgment Amounts

Interest Rate: _________% per annum
Interest Accrual: ☐ Simple ☐ Compound

Payments/Credits Received to Date: $______________

TOTAL AMOUNT DUE AS OF ASSIGNMENT DATE: $______________

SECTION 2: ASSIGNMENT TERMS

2.1 Type of Assignment

☐ Full Assignment (Sale) - Assignor sells and transfers complete ownership of the Judgment to Assignee for the Purchase Price. Assignor relinquishes all rights to the Judgment.

☐ Assignment for Collection - Assignor assigns collection rights to Assignee but retains ownership. Assignee collects on behalf of Assignor for a percentage of amounts collected.

☐ Partial Assignment - Assignor assigns _____% interest in the Judgment to Assignee.

2.2 Purchase Price (if Full Assignment)

Purchase Price: $______________

Payment Terms:
☐ Lump sum payment upon execution
☐ Installment payments as follows: _________________________________________________
☐ Contingent payment based on collection: _________________________________________________

Payment Method:
☐ Wire transfer
☐ Certified check
☐ ACH transfer
☐ Other: _________________________________________________

2.3 Collection Fee (if Assignment for Collection)

Collection Fee Structure:
☐ Flat fee: $______________
☐ Percentage of amounts collected: __________%
☐ Tiered percentage:
- First $______________ collected: __________%
- Next $______________ collected: __________%
- Amounts over $______________: __________%
☐ Other: _________________________________________________

When Fee is Earned:
☐ Upon receipt of funds
☐ Upon distribution to Assignor
☐ Other: _________________________________________________

SECTION 3: REPRESENTATIONS AND WARRANTIES

3.1 Assignor's Representations and Warranties

Assignor represents and warrants to Assignee that:

☐ 3.1.1 Ownership: Assignor is the sole legal owner of the Judgment and has full authority to assign it.

☐ 3.1.2 Validity: The Judgment is valid, subsisting, and enforceable under applicable law.

☐ 3.1.3 No Prior Assignment: Assignor has not previously assigned, sold, transferred, or encumbered the Judgment to any other party.

☐ 3.1.4 No Satisfaction: The Judgment has not been satisfied, discharged, vacated, modified, or reversed.

☐ 3.1.5 No Bankruptcy: To Assignor's knowledge, the Judgment Debtor has not filed for bankruptcy protection or received a discharge that would affect collectability.

☐ 3.1.6 No Pending Appeals: There is no pending appeal or motion that would affect the validity or enforceability of the Judgment.

☐ 3.1.7 Not Dormant: The Judgment is not dormant, expired, or otherwise unenforceable due to the passage of time.

☐ 3.1.8 Accurate Information: All information provided regarding the Judgment, amounts due, and Judgment Debtor is true and accurate to the best of Assignor's knowledge.

☐ 3.1.9 Collectability: Assignor makes the following representation regarding collectability:
☐ Assignor makes NO representation as to collectability (sold "as is")
☐ Assignor represents that collection efforts have been attempted with the following results: _________________________________________________

☐ 3.1.10 Existing Liens: The following liens have been recorded in connection with the Judgment:
☐ None
☐ Abstract of Judgment recorded in _________________ County on _________________
☐ Other liens: _________________________________________________

3.2 Assignee's Representations and Warranties

Assignee represents and warrants to Assignor that:

☐ 3.2.1 Authority: Assignee has full legal authority to enter into this Agreement and acquire the Judgment.

☐ 3.2.2 Licensing: If required by applicable law, Assignee holds all necessary licenses to collect debts, including:
License Number: _________________
Issuing State: _________________
Expiration Date: _________________

☐ 3.2.3 Compliance: Assignee will comply with all applicable federal and state laws in collection activities, including the Fair Debt Collection Practices Act (FDCPA), state debt collection laws, and consumer protection statutes.

☐ 3.2.4 Due Diligence: Assignee has conducted its own due diligence regarding the Judgment and the Judgment Debtor's ability to pay.

SECTION 4: ASSIGNMENT OF RIGHTS

4.1 Grant of Assignment

For the consideration described herein, Assignor hereby irrevocably assigns, sells, transfers, and conveys to Assignee all of Assignor's right, title, and interest in and to the Judgment, including but not limited to:

☐ The right to collect the full amount of the Judgment plus accruing interest

☐ All liens securing the Judgment, including any recorded abstracts of judgment

☐ The right to enforce the Judgment through all available legal means

☐ The right to examine the Judgment Debtor regarding assets

☐ The right to renew the Judgment before expiration

☐ The right to negotiate settlements or payment plans with the Judgment Debtor

☐ The right to receive any and all payments made in satisfaction of the Judgment

☐ The right to issue satisfactions, releases, and acknowledgments of payment

☐ All documentation relating to the Judgment

4.2 Retained Rights (if any)

Assignor retains the following rights (if applicable):
☐ None - all rights transferred
☐ _________________________________________________
☐ _________________________________________________

SECTION 5: ASSIGNOR'S OBLIGATIONS

5.1 Documents to be Delivered

Within _______ days of execution of this Agreement, Assignor shall deliver to Assignee:

☐ Certified copy of the Judgment
☐ Original or certified copy of any writs of execution
☐ Copies of any recorded abstracts of judgment
☐ All collection correspondence and documentation
☐ Judgment debtor examination transcripts
☐ Payment history and accounting records
☐ Debtor's last known address and contact information
☐ Asset information known to Assignor
☐ Executed Acknowledgment of Assignment of Judgment (for court filing)
☐ Other: _________________________________________________

5.2 Cooperation

Assignor agrees to:

☐ Execute any additional documents necessary to effectuate the assignment
☐ Cooperate with Assignee's collection efforts
☐ Promptly notify Assignee of any payments received after assignment
☐ Forward any payments received to Assignee within _______ days
☐ Refrain from taking any action that would impair Assignee's rights
☐ Provide testimony if required for enforcement proceedings

SECTION 6: RECORDING AND NOTICE REQUIREMENTS

6.1 Court Filing

☐ Assignee shall file the Acknowledgment of Assignment of Judgment with the court.

☐ Assignor shall file the Acknowledgment of Assignment of Judgment with the court.

Filing Deadline: Within _______ days of execution

6.2 County Recorder Filing

If abstracts of judgment have been recorded:

☐ Assignee shall record assignment in each county where abstract was recorded:
County: _________________ Instrument #: _________________
County: _________________ Instrument #: _________________

☐ Assignor shall record assignment in each county where abstract was recorded

6.3 Notice to Judgment Debtor

Notice of assignment shall be provided to the Judgment Debtor:

☐ By Assignee
☐ By Assignor
☐ Jointly by both parties

Notice Deadline: Within _______ days of assignment

Notice Method:
☐ Certified mail, return receipt requested
☐ Personal service
☐ First-class mail
☐ As required by FDCPA (if applicable)

SECTION 7: INDEMNIFICATION

7.1 Assignor's Indemnification

Assignor shall indemnify, defend, and hold harmless Assignee from any claims, damages, losses, or expenses arising from:

☐ Breach of any representation or warranty made by Assignor
☐ Any defect in Assignor's title to the Judgment
☐ Any prior assignment or encumbrance not disclosed
☐ Any inaccuracy in the information provided by Assignor
☐ Collection activities undertaken by Assignor after assignment

7.2 Assignee's Indemnification

Assignee shall indemnify, defend, and hold harmless Assignor from any claims, damages, losses, or expenses arising from:

☐ Assignee's collection activities after assignment
☐ Violations of FDCPA or other consumer protection laws by Assignee
☐ Breach of any representation or warranty made by Assignee
☐ Assignee's failure to maintain required licenses

SECTION 8: DEFAULT AND REMEDIES

8.1 Events of Default

The following constitute events of default:

☐ Failure to deliver documents as required
☐ Breach of any material representation or warranty
☐ Failure to pay Purchase Price when due
☐ Failure to file required court documents
☐ Failure to provide required notices

8.2 Remedies

Upon default, the non-defaulting party may:

☐ Terminate this Agreement
☐ Seek specific performance
☐ Pursue all available legal remedies
☐ Recover attorney's fees and costs

8.3 Return of Judgment

If this Agreement is terminated due to Assignor's breach:

☐ Assignor shall repay the Purchase Price plus interest at _________% per annum
☐ Assignment shall be rescinded and Judgment returned to Assignor
☐ Assignee shall file appropriate documents with court

SECTION 9: GENERAL PROVISIONS

9.1 Governing Law

This Agreement shall be governed by the laws of the State of _________________.

9.2 Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, or agreements.

9.3 Amendment

This Agreement may only be amended by written agreement signed by both parties.

9.4 Assignment

Assignee may further assign the Judgment without Assignor's consent, unless otherwise specified:
☐ Further assignment permitted without consent
☐ Further assignment requires Assignor's written consent

9.5 Notices

All notices shall be sent to the addresses set forth above, or to such other address as either party may designate in writing.

9.6 Severability

If any provision is held invalid, the remaining provisions shall continue in effect.

9.7 Counterparts

This Agreement may be executed in counterparts, each of which shall be deemed an original.

9.8 Attorney's Fees

In any dispute arising under this Agreement, the prevailing party shall be entitled to recover reasonable attorney's fees and costs.

SECTION 10: SIGNATURES

ASSIGNOR:

Signature: _________________________________ Date: _________________

Printed Name: _________________________________________________

Title (if entity): _________________________________________________

ASSIGNEE:

Signature: _________________________________ Date: _________________

Printed Name: _________________________________________________

Title (if entity): _________________________________________________

SECTION 11: NOTARIZATION

State of _______________________

County of _______________________

On _________________, before me, _________________________________, a Notary Public, personally appeared _________________________________ and _________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies).

WITNESS my hand and official seal.

Notary Signature: _________________________________ (Seal)

Commission Expires: _________________

SECTION 12: ACKNOWLEDGMENT OF ASSIGNMENT OF JUDGMENT

(For Court Filing)

[STATE] SUPERIOR COURT / DISTRICT COURT / [APPROPRIATE COURT]

COUNTY OF _______________________

Case Number: _________________________________________________

Case Caption: _________________________________ vs. _________________________________

ACKNOWLEDGMENT OF ASSIGNMENT OF JUDGMENT

The undersigned, _________________________________ ("Assignor"), being the judgment creditor in the above-entitled action, hereby acknowledges that the judgment entered on _________________ has been assigned to:

Assignee Name: _________________________________________________

Assignee Address: _________________________________________________

Assignee Telephone: _________________________________________________

Assignee Email: _________________________________________________

Assignee Attorney (if any): _________________________________________________

The assignment was executed on _________________ and is effective as of _________________.

The Assignee is now entitled to enforce the judgment and receive all payments made in satisfaction thereof.

I declare under penalty of perjury that the foregoing is true and correct.

Assignor Signature: _________________________________ Date: _________________

Printed Name: _________________________________________________

SECTION 13: NOTICE OF ASSIGNMENT TO JUDGMENT DEBTOR

[Date]

NOTICE OF ASSIGNMENT OF JUDGMENT

TO: _________________________________ (Judgment Debtor)
Address: _________________________________________________

RE: Case Number _________________; Judgment entered _________________

Dear _________________________________:

PLEASE TAKE NOTICE that the judgment entered against you in the above-referenced matter has been assigned from _________________________________ to _________________________________.

New Judgment Creditor/Assignee Information:

Name: _________________________________________________
Address: _________________________________________________
Telephone: _________________________________________________

Original Judgment Amount: $_________________

Current Amount Due: $_________________ (as of _________________)

All future payments should be made to the above-named Assignee at the address provided. Do NOT make payments to the original judgment creditor.

This notice is provided pursuant to applicable law. Please update your records accordingly.

If you have questions about this assignment or wish to discuss payment arrangements, please contact the Assignee at the information provided above.

Sincerely,

_________________________________
[Assignor/Assignee Name]

SECTION 14: STATE-SPECIFIC VARIATIONS

California

• Statutory Authority: CCP Section 673
• Court Filing: File Acknowledgment of Assignment with court clerk
• Required Form: No mandatory Judicial Council form; use Acknowledgment of Assignment
• Lien Transfer: Record assignment in each county where abstract was recorded
• FDCPA Compliance: If Assignee is debt collector, must comply with FDCPA and Rosenthal Act
• Recording Fee: Varies by county

Texas

• Statutory Authority: CPRC Section 31.003
• Court Filing: File assignment with district/county clerk
• Lien Transfer: Record new abstract of judgment in Assignee's name
• Special Notes: Assignment should be notarized for recording purposes
• Collection Licensing: Texas Finance Code may require licensing for debt collection

Florida

• Statutory Authority: Florida Statutes Section 55.01
• Court Filing: File notice of assignment with clerk of court
• Lien Transfer: Record assignment with Department of State (if statewide lien recorded)
• FDCPA Compliance: Florida Consumer Collection Practices Act also applies
• Special Notes: Assignment effective upon filing with court

New York

• Statutory Authority: CPLR Section 5019
• Court Filing: File assignment with county clerk where judgment docketed
• Lien Transfer: File in each county where transcript of judgment filed
• Special Notes: Assignment must be in writing and acknowledged (notarized)
• Debt Collection: Must comply with NYC and state debt collection regulations

SECTION 15: ASSIGNMENT CHECKLIST

Pre-Assignment:

☐ Verified judgment is valid and enforceable
☐ Confirmed no prior assignment or encumbrance
☐ Verified judgment is not expired or dormant
☐ Checked for pending bankruptcy or appeals
☐ Calculated current amount due
☐ Obtained all judgment-related documents
☐ Researched Assignee (if selling to collection agency)
☐ Negotiated purchase price or collection fee terms

At Closing:

☐ Assignment Agreement executed by both parties
☐ Acknowledgment of Assignment executed
☐ Purchase price received (if applicable)
☐ All documents delivered to Assignee
☐ Copies retained for Assignor's records

Post-Assignment:

☐ Assignment filed with court
☐ Assignment recorded with county recorder (if liens exist)
☐ Notice sent to Judgment Debtor
☐ Proof of service retained
☐ Any employers/garnishees notified of new payee
☐ Banks holding levied funds notified

This template provides general guidance for assigning judgments. Requirements vary by jurisdiction. Assignment is generally permanent and irrevocable. Consult with legal counsel before executing any assignment agreement.